Porch Group, Inc. (NASDAQ:PRCH) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Porch Group, Inc. (NASDAQ:PRCH) have earned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $4.18.

A number of research firms have recently weighed in on PRCH. Northland Securities dropped their price target on shares of Porch Group from $5.00 to $3.25 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Benchmark reiterated a “buy” rating and set a $7.00 target price on shares of Porch Group in a research report on Tuesday, October 29th. Stephens raised their price target on Porch Group from $4.00 to $5.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Craig Hallum upped their price objective on shares of Porch Group from $3.00 to $4.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Finally, Oppenheimer decreased their target price on shares of Porch Group from $4.50 to $3.50 and set an “outperform” rating on the stock in a report on Thursday, August 8th.

Insiders Place Their Bets

In other Porch Group news, CFO Shawn Tabak sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $2.00, for a total value of $30,000.00. Following the sale, the chief financial officer now owns 278,298 shares in the company, valued at $556,596. This trade represents a 5.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 23.46% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Alpine Global Management LLC acquired a new position in Porch Group in the 1st quarter worth about $43,000. Bayesian Capital Management LP acquired a new position in shares of Porch Group in the first quarter valued at approximately $80,000. Zacks Investment Management bought a new position in Porch Group in the 3rd quarter valued at approximately $32,000. Caprock Group LLC bought a new position in Porch Group in the 3rd quarter valued at approximately $37,000. Finally, Mackenzie Financial Corp grew its holdings in Porch Group by 102.4% during the 2nd quarter. Mackenzie Financial Corp now owns 23,908 shares of the company’s stock worth $36,000 after acquiring an additional 12,097 shares during the last quarter. 48.48% of the stock is currently owned by institutional investors.

Porch Group Trading Up 3.8 %

NASDAQ:PRCH opened at $2.97 on Friday. The stock has a 50 day simple moving average of $1.85 and a 200 day simple moving average of $1.85. Porch Group has a 1-year low of $1.05 and a 1-year high of $4.78. The stock has a market cap of $355.05 million, a P/E ratio of -4.24 and a beta of 1.98.

Porch Group Company Profile

Porch Group, Inc, together with its subsidiaries, operates a vertical software and insurance platform in the United States. The company operates in two segments, Vertical Software and Insurance. The Vertical Software segment provides software and services to inspection, mortgage, and title companies on a subscription and transactional basis, as well as move and post-move services.